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Full-Text Articles in Retirement Security Law
Social Security Reform: Lessons From Private Pensions, Karen C. Burke, Grayson M.P. Mccouch
Social Security Reform: Lessons From Private Pensions, Karen C. Burke, Grayson M.P. Mccouch
UF Law Faculty Publications
Widespread concerns about the long-term fiscal gap in Social Security have prompted various proposals for structural reform, with individual accounts as the centerpiece. Carving out individual accounts from the existing system would shift significant risks and responsibilities to individual workers. A parallel development has already occurred in the area of private pensions. Experience with 401(k) plans indicates that many workers will have difficulty making prudent decisions concerning investment and withdrawal of funds. Moreover, in implementing any system of voluntary individual accounts, it will be important to design default settings that provide appropriate guidance for workers with heterogeneous levels of financial …
Hope We Die Before We Get Old: The Attack On Retirement, Patricia E. Dilley
Hope We Die Before We Get Old: The Attack On Retirement, Patricia E. Dilley
UF Law Faculty Publications
The American institution of retirement has sustained numerous attacks over the last twenty years, to the extent that it may cease to exist by the time most of today's workers reach their midsixties. Professor Patricia Dilley describes how all of the components of the "three-legged stool" that represents private pensions, personal savings, and Social Security, have declined so significantly in recent years that the combination may not be able to provide support for the elderly in the future, particularly those retired seniors who are in the lower and middle classes. Changes in employment policies, the markets for retirement savings investment, …